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[Anonymous]

Hello Im a full time student and I recently opened my first credit card around 3 months ago. The citi thank you preferred student card. Right now my credit score is on a range from 700-715. Is it a good idea to open a new card or upgrade my current card to the citi thank you preferred regular card to receive a sign up bonus. Or should i wait because my credit history is still really low and my credit isnt that great. Im looking for a card that has a good sign up bonus with no annual fee. Its going to be a everyday use card. Whats ur take on it. Thank you in advance

[CYBERSAM]

Discover it, AMEX BCE, Quicksilver all have no AF and good reward program. They also are very good cards to grow for CLI with SP.

[Anonymous]

It's only been 3 months.  I would consider using the card over the course of the next 9 mos to a year, and applying for 1-2 more then.  Credit score is decent, but score isn't the only factor as they also look at credit profile and income.  If you're income isn't what they're looking for as a student you may be disappointed in your starting credit limits, if you're approved at all. 

[stellar]

When you upgrade or product change a card, you don't receive a sign up bonus.  You only get one if you just apply for the card.

[Anonymous]

List your three scores, where they are from, and your number of inquiries on each bureau.

[Anonymous]

Credit Score

Transunion = 717 0 inquiry

Equifax = 696 3 inquiry

I just did some research and was thinking of either the Chase freedom or the unlimited. What do u think of those cards and if I will get approved by thise cards. 

[Anonymous]

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@Anonymous wrote:

Credit Score

Transunion = 717 0 inquiry

Equifax = 696 3 inquiry

I just did some research and was thinking of either the Chase freedom or the unlimited. What do u think of those cards and if I will get approved by thise cards. 

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Remember to use your household income when applying, include all money that is available for paying the bill. 

I would check for pre-qualification with Chase. If they have you listed for the freedom that's a great sign you'll get approved. 

You really should look at how much money you spend a month and in which categories. kdm would say it's not wise to spread yourself too thin across too many rewards programs. 

http://ficoforums.myfico.com/t5/Credit-Cards/Cash-Back-credit-card-charts/td-p/4004725

This is an excellent resource of information. It will give you an idea on which cards will serve you the best. 

Do you travel? How much? The citi premier would be great to consider later this year  if you can handle spending 3500 in 90 days and paying their bill in full, you'd get 40-50k thank you points, and 3x points on travel. 

Ideally a person should have 3 cards for scoring reasons. And it's always a good idea to have a card for general spend like quicksilver or double cash. 

But! If you did travel the freedom or freedom unlimited would pair well in the future maybe later this year or next year with a chase sapphire preferred app so you could transfer your points (instead of redeeming for cash and and get more value for them from travel partners) . 

If you are not spending over 1k a month, I would get the freedom not the unlimited (unless the categories don't apply to you like grocery stores, gas, Amazon etc), and then immediately apply for the Chase aarp card to have unlimited 3% back on gas and dining plus $200 free after spending 500 in 90 days. Pair that with the $150 freedom bonus and that's 350 after 1k spend! Should combine under the same credit inquirie(s). 

I also suggest getting a relationship at a credit union unless your school is far away from home. Even then it may be a good idea. They have up to 2% APY on free checking accounts. 

Bank of America is also great (especially with growing limits, Apr reductions, and ongoing balance transfer offers)  see if you are pre qualified there. The cash rewards bonus is at $200 after 500 spend and you could swing applying for a 2nd card if the first one is instantly approved. Better balance rewards, etc. I'd recommend leaving them for down the road when you have more credit history unless you're pre-approved. They can be harder to get approved for. 

I would definitely apply at only one more bank now, and try to combine two card applications to soften the blow. Always pay in full whenever possible by the statement cut date not the due date, and let a balance greater than $5 but less than 30% of that cards limit report each month. 

If for any reason your chase apps are denied, then you could consider taking a triple inquiry hit and applying at capital one. Check to see if you are pre-qualified. If it only offers you cards with annual fees I'd step back and build up your history with citi and reevaluate in 6 months! 

[Anonymous]

Assuming the discover student card allows you to get cash at the register like thier normal card does from walmart, dollar general and lot's of other places... I would get that.

It's a pretty decent rewards card in it's own right, and that cash back feature is really handy. It is counted the same as a purchase (except you don't get points back, I don't think), so you don't pay a cash advance penalty APR and it doesn't make credit card companies freak out like when you get cash off other credit cards.

I'm not encouraging you to do it if you don't have to but....

Sometimes things like rent, and other obligations can't always be paid with a credit card, and if you ever find yourself unemployed or in some other bind that cash back without the stigma and penalty apr of a normal cash advance can come in real handy. For instance my family owns my mobile home, but the lot it is on requires me to pay a lot fee, and the office doesn't accept credit cards. Plus I like my discover card in general, and the website... free fico too

They also do Soft pull credit line increases, and I think are pretty good about doing auto increases compared to some other cards. I don't think you'll have any trouble getting approved with a score near or over 700. even with a somewhat thin file given it is a student card... I think I was only at around 680 when they gave me the normal card with 4500 on 25k a year income.